Plains Group Holdings LP Stock Forecast
Red day on Monday for Plains Group Holdings LP
(Updated on Apr 22, 2024)
The Plains Group Holdings LP stock price fell by -0.373% on the last day (Monday, 22nd Apr 2024) from $18.76 to $18.69. During the last trading day the stock fluctuated 1.59% from a day low at $18.54 to a day high of $18.83. The price has fallen in 7 of the last 10 days and is down by -4.89% for this period. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $40.97 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $18.41 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 17.29% during the next 3 months and, with a 90% probability hold a price between $21.60 and $23.61 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PAGP Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -4.89%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Plains Group Holdings LP stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $18.52 and $18.16. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Plains Group Holdings LP stock
On the downside, the stock finds support just below today's level from accumulated volume at $17.31 and $16.91. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Plains Group Holdings LP finds support just below today's level at $17.31. If this is broken, then the next support from accumulated volume will be at $16.91 and $16.07.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.295 between high and low, or 1.59%. For the last week, the stock has had daily average volatility of 1.91%.
Our recommended stop-loss: $17.96 (-3.90%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (PAGP) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Plains Group Holdings LP to open at $18.69, and during the day (based on 14 day Average True Range), to move between $18.36 and $19.02, which gives a possible trading interval of +/-$0.331 (+/-1.77%) up or down from last closing price. If Plains Group Holdings LP takes out the full calculated possible swing range there will be an estimated 3.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $18.87 (0.96%) than the support at $17.31 (7.38%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Plains Group Holdings LP stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Plains Group Holdings LP stock to perform well in the short-term.
Current score: 1.295 Buy Candidate Unchanged
Predicted Opening Price for Plains Group Holdings LP of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $18.69 ( 0.0268%) | $18.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PAGP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.98 | 1.55 % | |
| R2 | 18.87 | 0.95 % | ||
| R1 | 18.80 | 0.576 % | ||
| Current price: | 18.69 | |||
| Support | S1 | 18.57 | -0.630 % | |
| S2 | 18.50 | -1.00 % | ||
| S3 | 18.39 | -1.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.65 | 5.14 % | |
| R2 | 19.00 | 1.66 % | ||
| R1 | 18.87 | 0.96 % | ||
| Current price | 18.69 | |||
| Support | S1 | 17.31 | -7.38% | |
| S2 | 16.91 | -9.52% | ||
| S3 | 16.07 | -14.02% |
PAGP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 30, 2024 | Apr 30, 2024 | May 15, 2024 | $0.318 | 1.70% |
| 2 | Jan 08, 2024 | Jan 30, 2024 | Feb 14, 2024 | $0.318 | 1.94% |
| 3 | Oct 05, 2023 | Oct 30, 2023 | Nov 14, 2023 | $0.268 | 1.68% |
| 4 | Jul 06, 2023 | Jul 28, 2023 | Aug 14, 2023 | $0.268 | 1.68% |
| 5 | Apr 06, 2023 | Apr 28, 2023 | May 15, 2023 | $0.268 | 1.94% |
FAQ
Click here for our free guide on how to buy Plains Group Holdings LP Stock.
